About 230 George Washington Hwy
Attention investors/developers: Buy this single-family home now and develop the property later. Be part of Rhode Island's next hottest area for development!! Pad-ready with Master plan approval for 21 residential units and 9000 ft. retail. Prime location, high traffic visibility, next to corner lot of 250 George Washington Highway and Douglas Pike - close to 146 and 295. Zoned Planned Corporate and being part of the Overlay District there are many uses possible. Currently on site exists a single-family home. Opportunity for a combined purchase w/abutting property 250 George Washington Highway, totaling 6+ acres. Call for details. 230 George Washington Highway Residential Land Value 26 residential units $75,000 per unit = $1,950,000 Retail Land Value 9,000 sq. ft. $45 per sq. ft. = $405,000 gross annual rent Less 15% vacancy = $344,250 effective gross income Less 10% operating expenses = $309,825 NOI Retail land value: 3 years of NOI = $929,475 Proposed Land Value/Sale Price $1,950,000 residential value $929,475 retail value = $2,879,475
Pricing and availability subject to change.
Amenities
| Utilities |
Water Available
|
| Parking Spaces |
4
|
| Parking |
No Garage
|
| Garages |
No Garage
|
| Is Waterfront |
No
|
| Has Pool |
No
|
Interior
| Interior |
Other
|
| Appliances |
Electric Water Heater
|
| Heating |
Hot Water, Oil
|
| Cooling |
Window Unit(s)
|
| Fireplace |
Yes
|
| Fireplaces |
None
|
| # of Stories |
2
|
| Stories |
2
|
| Has Basement |
Yes
|
| Basement |
Full, Unfinished
|
Exterior
| Exterior |
Wood Siding
|
| Construction |
Wood Siding
|
| Foundation |
Concrete Perimeter
|
